According to a new report from eMarketer, video ads now make up at least 25% of all digital advertising in the US, with Facebook clearly in the lead.
The latest forecast from eMarketer looking at online video ad spend in the United States foresees it to reach a whopping $27.8 billion this year, with video ads making up a quarter of all digital advertising during 2018.
The forecast also shows that Facebook and Instagram‘s ad revenue will make up around twice that of YouTube‘s, at $6.81 billion. YouTube is forecasted to rake in $3.36 billion, Twitter $633.3 million, and Snapchat $397.3 million.
In Twitter and Snapchat’s case, net video ad revenues will account for over half of their total revenue, whereas in Facebook’s case it will account for roughly 30%.
Facebook, clearly in the lead, also makes up nearly 25% of video ad spend. According to the forecast, Facebook and Instagram’s video ad revenue will account for 24.5 % of all US video ad spending in 2018.
But that’s not all. Facebook currently controls 87% of video ad spending among social media sites in the United States – with YouTube not considered a social media site for this comparison. Facebook is also expected to post “double-digit growth through 2020” which makes sense given the company’s emphasis on video.
This report really shows the growth of video in digital advertising, and the results account for its effectiveness as a medium. While marketers have preferred video for many reasons, now we’re starting to witness the magnitude of this trend.